After a Dismal Year, China Tech Stocks Perk Up

Some of the largest Chinese technology stocks, among the most battered names in global equities this year, have shown signs of life this month just as U.S. tech giants have faltered.

What’s Happening

Chinese internet giant Tencent Holdings Ltd., e-commerce titan Alibaba Group Holding Ltd. and smartphone maker Xiaomi Corp. have rallied in November. That is a contrast to the so-called FAANGs in the U.S. These five large tech stocks—Facebook Inc., Apple Inc., Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc.—are…